Daiwa Securities Group Inc. Purchases 3,737 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Daiwa Securities Group Inc. grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 24.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,270 shares of the company's stock after purchasing an additional 3,737 shares during the period. Daiwa Securities Group Inc.'s holdings in DocuSign were worth $1,733,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after acquiring an additional 120,743 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after buying an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock valued at $141,398,000 after buying an additional 112,919 shares during the last quarter. FMR LLC boosted its holdings in shares of DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after buying an additional 315,073 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company's stock valued at $150,525,000 after buying an additional 637,505 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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Insider Activity

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now owns 85,851 shares of the company's stock, valued at approximately $8,394,510.78. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares of the company's stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock worth $9,665,394 in the last quarter. 1.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday. HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a report on Friday. Finally, Robert W. Baird upped their price target on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus target price of $95.58.

DocuSign Stock Up 14.8 %

Shares of DocuSign stock traded up $11.06 during trading on Friday, hitting $85.76. 11,927,431 shares of the stock traded hands, compared to its average volume of 2,402,407. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. The firm's fifty day moving average is $87.97 and its 200-day moving average is $79.22. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.